No progress from Trump on carbon taxing, says Nobel Prize winner

Stockholm: A winner of this year’s Nobel Prize for Economics, who advocates for carbon taxes as the best way to address the issue of greenhouse gas emissions, says he does not expect US President Donald Trump to make any moves towards accepting that view.

William Nordhaus’s comments to The Associated Press on Friday followed Trump’s recent dismissal of his own government’s report warning of the dire consequences of climate change.

Nordhaus says: “There will be no forward progress under the Trump administration — I think that’s virtually inconceivable.” He added: “It will be good if it didn’t go backwards.”

Nordhaus will split the 9 million-kronor ($999,000 or Dh3.6 billion) prize with another American, Paul Romer, who was recognised for his work on how markets can encourage innovation.

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